Goldrea Resources Corp.
TSX VENTURE : GOR
PINK SHEETS : GORAF
FRANKFURT : GOJ

Goldrea Resources Corp.

March 26, 2010 06:00 ET

Goldrea Announces Private Placement With Chinese Investment Firm

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 26, 2010) - Goldrea Resources Corp. (TSX VENTURE:GOR)(PINK SHEETS:GORAF)(FRANKFURT:GOJ) ("Goldrea" or the "Company") is pleased to announce it has negotiated a private placement with China Finance Gold International Investment Limited, for a non-brokered private placement of up to 40,000,000 units ("Units") at $0.14 per Unit for gross proceeds of $5,600,000. Each Unit will consist of one common share and one-half of a share purchase warrant (the "Warrant"). Each whole Warrant will entitle the holder to purchase one common share at a price of $0.20 for one year from the date of issue. All of the securities issued pursuant to this offering will have a hold period expiring four months after the closing date. If it is determined that a new control person will be created the Company will seek disinterested shareholder approval to the Private Placement prior to closing the Private Placement.

This private placement remains subject to shareholder approval and the acceptance of the TSX Venture Exchange (the "TSX") and finders' fees may be payable in accordance with the policies of the TSX.

The proceeds of the private placement will be used for exploration work on the Ludi concession and developing the Golden Rose shaft area for additional production, both located in Shandong Province, China and general working capital.

GOLDREA RESOURCES CORP.

Larry W. Reaugh, President and Chief Executive Officer

This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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